Tristar funds growth via credit funding: Dubai-based energy logistics firm Tristar — partly owned by Kuwaiti logistics outfit Agility — has secured a USD 255 mn credit facility from several unnamed regional and international banks, according to a Boursa Kuwait statement (pdf). The facility — which has an 18-months tenor with certain extension options — will be used for refinancing and supporting ongoing business operations.

There might be room for more: The energy logistics firm could potentially apply for an additional USD 60 mn (c. KWD 18.4 mn) within three months.

REFRESHER- The company just had a solid 1Q: Tristar reported a 35% y-o-y jump in topline in 1Q — reaching USD 340 mn, fueled by the new Sri Lanka retail business.

Loans, stakes, and IPOs: Tristar was reportedly considering the sale of a company stake and consulting with advisors to boost shareholder value back in September 2024. The Agility logistics arm also planned to go public and offer 24% of its shares in the IPO, potentially valuing it at AED 3.24 bn on the Dubai bourse back in April 2021, but pulled back due to a lack of investor demand.

Tags: